Dividing Assets: How a Family Lawyer Can Help

When a couple decides to go separate ways through divorce, one of the biggest decisions they must face is how to fairly divide their assets. While some divorcing couples are able to make these arrangements on their own, many disagreements often come up as each former spouse voices their opinions and makes their life plans. Our North Texas family law firm in Fairview, TX, Woods, May, & Matlock is here to help.

Even in a no-fault divorce where both partners are fairly amicable in their decision to go separate ways, deciding how to divide up property, financial assets, and time with children can easily get challenging as emotions and differing opinions arise. Both property and investments accumulated during the marriage and debts need to be divided up.

The state laws are set up to support property between two spouses being divided equitably, and this doesn’t necessarily mean equally. Equitable division of property means that based on factors such as each of your income, will come into play in determining if portions are split fifty-fifty or by some other method.

What Your Lawyer Does First

To start, your family lawyer will help you look over your list of joint assets, and make sure you aren’t overlooking anything. For example, if your spouse recently bought property with a bonus during the divorce, you still may be entitled to half of it. Our lawyers will help you decide what you want to pursue so we can ideally come to a quick agreement. You will want to decide what items, if any, are most important to you, and what areas you are more willing to be flexible about so that there’s some room to come to an arrangement. Many times, the court will require you try third-party mediation.

Looking for Agreement: Mediation

At mediation, a neutral mediator will host a conversation between you and your ex-spouse. Most people chose to attend mediation with their lawyer for support. During mediation, you represent your own interests, and the mediator will try to help both of you find ways to compromise. Mediation is a powerful option because it truly puts you in charge of decisions and doesn’t involve the courts in the decisions you and your ex-spouse reach. It also sets the tone for later decisions, especially if you have children together.

If you aren’t able to reach an agreement in mediation, we will work with you to prepare for the courtroom.

At the Hands of the Judge

Some people think once a divorce case gets to the courtroom a judge will be fickle and decide your future on a whim. Having a good lawyer who can sway the judge’s opinion by advocating for you makes a difference.

At Woods, May, & Matlock, we have handled numerous types of family law cases. We will be courteous, responsive, and sensitive to your needs. If you need help from a North Texas family law firm in Fairview, TX, we are here for you. Call us today for a free brief phone consultation or to schedule an appointment at 972-387-9955.